The crypto market has recovered. But a look into the past urges caution.
(Photo: Bloomberg)
Frankfurt, Dusseldorf Amazon gave the go-ahead. The online retailer’s convincing quarterly figures brought risk appetite back to the market at the end of last week. Cryptocurrencies in particular have benefited from this – probably the riskiest asset class. Since Thursday evening, more than 350 billion dollars have flowed into cybercurrencies of all kinds, according to data from the analysis house Coinmarketcap.
Bitcoin alone, the oldest and most important cryptocurrency, has increased its market capitalization by $130 billion in this period. The price is now just under $44,000 – an increase of around 20 percent within five trading days. So, is the correction that caused the entire crypto market to plummet nearly 50 percent from mid-November to late January over? Which price markers, sentiment indicators and events are important now.
Course markers: $45,000 as the next hurdle
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